For people that want to donate money to a political campaign, it is essential to think if one can deduct it from your tax return. The answer is no, as Uncle Sam specifies that...
Posted by Tucker Accounting Services LLC on 05/06/2021
Many people are less concerned about whether they owe gift taxes or not. A gift tax return is a Federal Government tax return often filed with certain terms and conditions by the gift's...
Posted by Rosovich & Associates, Inc. on 04/29/2021
Charities are looking for more help today than ever before. If you are planning to donate to charity now or at any time of the year, you have various options. While you can simply...
Posted by Unifirst Financial & Tax Consultants on 04/14/2021
Getting a new car is an interesting process. New seats, new windows, the smell of a clean car - what's not to like about it? Buying a new car usually means getting rid of an existing...
Posted by Taxes Made EZ Inc on 03/28/2021
Are you wondering if there is a hard rule on taxable income and non-taxable income? The answer is simple: all income is taxable unless it is expressly excluded by law. But, as you've...
Posted by Elliot Kravitz, ATP on 03/17/2021
What are itemized deductions?Itemized deductions are a list of expenses that you can use to reduce taxable income on your federal income tax return. These include medical bills, taxes,...
The COVID 19 relief package passed in March 2020 includes provisions valued at $2.3 million to cushion the pandemic's effect. It is called CARES Act and comes with a package for...
Posted by Taxes Made EZ Inc on 02/23/2021
The I.R.S requires that you report all taxable donations you make during the year and pay the appropriate tax. However, the average taxpayer never files a gift tax return or pays gift...
Posted by Unifirst Financial & Tax Consultants on 01/22/2021
If you're like most business owners who want to close the year and prepare taxes this month, there are several holiday expenses that you can deduct that can save you thousands...
Posted by Karen Munoz, EA on 12/15/2020
